Sunday, October 5, 2008

Economists Prefer Obama

I was an Economics/Mathematics major in college. It always bothered me that many basic principles of Economics were counter to my beliefs on what was right and fair. For example, basic supply and demand principles would argue against establishing a minimum wage. By artificially setting a minimum wage, the theory goes, you end up reducing the number of jobs available to people. It was only when one professor, in an offhand comment, said that sometimes you have to take other things into consideration whem making such decisions (or something like that), that I could reconcile my study of Economics to my liberal leanings.

All of this is preface to explain my pleasant surprise when I read an article in The Economist publishing the results of their poll of economists on the election. Bottom line, the overwhelming majority of economists rated Barack Obama's economic policies higher than John McCain's, feel that Barack Obama has a better grasp of the economics, and believe that Barack Obama would pick the better economic team.

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